Performant Financial (PFMT) - down 28.

1% Performant earns fees for collecting delinquent student loans (about 60% of the business) and providing recovery services for improper Medicare payments (close to 30%). The recent sell-off in the stock seems due to comments from Sallie Mae regarding lower rehabilitation fees paid to Guarantee Agencies, which investors expect to "trickle down" to service providers like PFMT. The stock has been sold off dramatically on these assumptions. We should know more when the company rep orts earnings in the coming weeks, but this is one worth looking at more closely - the firm has been growing revenue at 30%+ rates. WORTHY OF CONSIDERATION. Performant Financial (NASDAQ: PFMT) Performant Financial, a company that aids the US govt in collecting on defaulted assets, checks the boxes for silly reasons why institutional investors and othe r asset managers avoid this great opportunity. PFMT has a short public trading history, sub-billion market cap, and uncertain timing of govt contract renewals. Though there are few competitors within Performant s niche and the target market grows no matter what the economy does, investors would rather wait to see if and when PFMT wins contract renewal. According to our research, the stock is so che ap, should they lose one of their lucrative government contracts, we believe we are still buying PFMT at a discount to its long-term earning power. Liquidity Services LQDT long term growth story is intact; more business when economy contracts; work wit h Walmart Vera Bradley (NASDAQ: VRA) Like many retailers, Vera Bradley suffered in the retailer bear market in August t o October of this year. Consumers are still under pressure, and retailers must d iscount significantly or lose sales. Most retailers are cheap, but the Frank Val ue Fund has the ability to buy a smaller company with growth prospects. Vera Bra dley has significant expansion opportunities for their company-owned store conce pt. This sub-billion company is 62% owned by the founders and current management , leaving little room for a larger asset manager to take a concentrated position . The Fund had no problem buying VRA while the short term results were suffering and investors were selling. We have the patience to hold while management right -sizes their product offering and continues to expand the store base. Great growth contracts; does not compete with Micahel Kors